Australian Property

It shouldn’t because he’s talking nonsense. Via Bluenotes: The fall in Australian house prices in 2018 was the largest since the financial crisis. But the implications for the broader economy are more important. It’s even possible that weaker house prices and a weaker economy combine into a negative feedback loop (although in my view this is unlikely).

And quite rightly.

Worth noting today that McGrathmaggedon has passed through -88% today since its preposterous float: No news since the December update but the mortgage crash is all we need to know.

By Leith van Onselen The NSW Government has reportedly rolled-out the second phase of its $1.1 billion Social and Affordable Housing Fund (SAHF), which aims to build another 1,000 homes for primarily older residents.

By Leith van Onselen We’ve hit peak stupid in the negative gearing debate, with Starr Partners CEO, Douglas Driscoll, claiming Labor’s policy will magically lead to an influx of Chinese investment, thereby locking-out first home buyers.

Via Domain: Sally Auld, a managing director and chief economist at investment bank JPMorgan, said a change to the laws would have a potential flow-on effect for house prices, which are already in the doldrums.

This is a new low in political economy stupid: Mortgage brokers are a con.

By Leith van Onselen Domain research analyst, Eliza Owen, has published a report showing that Sydney’s rental vacancy rate is rising at the same time as rents are falling: The Sydney rental vacancy rate has been trending higher.

Cross-posted from The Conversation: The fire at the Neo200 building on Spencer Street in the Melbourne CBD this week has eerie similarities to the Grenfell Tower disaster.

CoreLogic’s leading indices are out and they continue point to further house price weakness.

By Leith van Onselen Independent economist Gerard Minack has released a report explaining why he thinks “a recession in Australia is becoming more likely”.

By Leith van Onselen The mortgage broker locusts continue to swarm the Hayne Royal Commission’s recommendation to overhaul mortgage broking from a commission-based to a user-pays system.

By Leith van Onselen The boom and bust of Perth and Darwin’s housing markets have been well documented on MB.

By Leith van Onselen The Opal Tower farce, which saw residents evacuated from the 34-storey structure after huge cracks were discovered, has forced the NSW Government to undertake a major overhaul of high-rise construction.

The AFR rounded up the property locusts over the weekend to chirp about coming rate cuts.

By Leith van Onselen Family homes are reportedly “flying” at auctions “as pent-up buyer demand sparks competition”, according to Domain.

REA is down 5% so far today on its earnings update: In short, no revenue growth ex-acquisitions.

By Leith van Onselen A conga-line of “experts” have slammed Labor’s $6.6 billion affordable rental scheme, which is aimed at facilitating the construction of 250,000 ‘affordable’ rental dwellings over the next decade.